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Anchor Line Realty

Anchor Line Realty specializes in buyer brokerage, real estate sales listings, and long term property management in Key West & the Florida Keys.

Call: (305) 766-6835

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$2,959,950
1121 Margaret Street
Key West, FL 33040
MLS# 597949
Status: Closed
4 beds  |  5 baths  |  3000 sqft


1121Margaret-0827 (135 of 137)
  1 / 70  
1121Margaret-0827 (135 of 137) Main Entrance (In-Law Suite to the left) 1121Margaret-0296 (5 of 137) 1121Margaret-0300 (7 of 137) 1121Margaret-0310 (8 of 137) Guest Bedroom 1 Guest Bedroom 1 Hall/ Bath for Guest Bedroom 1 & 2 Hall/ Bath for Guest Bedroom 1 & 2 Hall/ Bath for Guest Bedroom 1 & 2 Guest Bedroom 2 Guest Bedroom 2 1121Margaret-0374 (22 of 137) 1121Margaret-0376 (23 of 137) Single Car Garage (can park another car behind in the driveway) 1121Margaret-0384 (25 of 137) 1121Margaret-0776 (117 of 137) Hidden Art Studio off Dining Room Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet. Has a separate entrance off left side of the house. Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet. Has a separate entrance off left side of the house. Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet. Has a separate entrance off left side of the house. Art Studio (can be converted to an additional bedroom with plumbing for a full bath and walk-in closet. 1121Margaret-0416 (31 of 137) 1121Margaret-0435 (36 of 137) 1121Margaret-0441 (37 of 137) 1121Margaret-0451 (39 of 137) 1121Margaret-0457 (40 of 137) 1121Margaret-0469 (43 of 137) Primary Bedroom Primary Bedroom Primary Bedroom Primary Bedroom Primary Bath Primary Bath Primary Bath Primary Bath Primary Walk-In Closet Primary Bedroom Primary Bedroom Porch 1121Margaret-0684 (95 of 137) 1121Margaret-0593 (73 of 137) 1121Margaret-0596 (74 of 137) 1121Margaret-0620 (77 of 137) 1121Margaret-0644 (81 of 137) 1121Margaret-0628 (78 of 137) 1121Margaret-0635 (79 of 137) Great Room Half Bath 1121Margaret-0672 (91 of 137) 1121Margaret-0680 (94 of 137) 1121Margaret-0691 (97 of 137) 1121Margaret-0696 (98 of 137) 1121Margaret-0703 (100 of 137) 1121Margaret-0712 (102 of 137) 1121Margaret-0727 (104 of 137) 1121Margaret-0735 (106 of 137) 1121Margaret-0737 (107 of 137) 1121Margaret-0741 (108 of 137) Outdoor Shower Outdoor Half Bath Half Bath with Outdoor Shower 1121Margaret-0760 (114 of 137) 1121Margaret-0771 (116 of 137) In-Law Suite In-Law Suite In-Law Suite In-Law Suite Bathroom In-Law Suite Bathroom 1121Margaret-0819 (134 of 137) 1121Margaret-0836 (136 of 137) Floor Plan (not to scale)

Property Description
The newly renovated structure at 1121 Margaret St. once housed the historic Molina's Bakery and is a brilliant example of adaptive reuse. Sold with $11,950 in furnishings and $48,000 in art. The 3000 sf home includes 4 bedrooms, a mother-in-law apartment, a large office/studio, 3 full & 2 half bathrooms, laundry room and garage. The great room at the back of the home has an exquisite galley kitchen and island that serves the large living/dining spaces. There is a wall of glass leading to the outdoor living/dining/entertaining space with gorgeous tropical landscaping, a swimming pool, water feature and outdoor shower. There is a large central courtyard and meditation garden that not only provides another peaceful outdoor respite but also allows natural light to filter throughout the home. Unique and clever design features abound some of which were designed and fabricated by the owner architect. One feels the cool, mod vibe as soon as entering the home. The floors are bright finished concrete. Walls vary between stenciled designs, Italian fresco and a crisp white surface for displaying artwork. Owners reserve the right to leaseback the property for up to 12 months beyond the closing date.

Details
Maps
Documents
Contract Information
Current Price: $2,959,950
Listing Date: 2021-10-01
Listing Board: Key West Association
Leased Price Monthly: $2,959,950
Location, Tax & Legal
Street #: 1121
Street Name: Margaret
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Investment Co Sub (1.0)
Area: 02 - Key West
General Property Description
Realtor.COM Type: Residential - Single Family
Style: Single Family
Waterfront: No
Pool: Yes
Year Built: 1948
Lot Size: 49x107
Lot SqFt: 5243
Acres: 0.12
Living Apx SqFt: 3000
SqFt Source: Builder/Architect
Total Bedrooms: 4
Full Baths: 3
Half Baths: 2
Total Baths: 5
Rentals Allowed: With Restrictions
Min Rental Days: 30
Status Change Info
Under Contract Date: 2021-10-08
Leased Date: 2021-10-21
Leased Price Monthly: $2,959,950
Sold Comments: included $11,950 of furnishings & $48,000 of art
Status: Closed
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Building Style
Above Flood: Unknown
# Stories: 1 Story
Vehicle Storage
Car(s): 1
Property Features
Fee Includes: None
Tax Exemptions: Homestead
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Updated/Remodeled
Building Style: Ground Level
Vehicle Storage: Garage
Furnished: Furnished; Partially
Cooling: Ceiling Fans(s); Central Air; Ductless; Heat
Utilities: Cable Available; FKAA; Municipal Sewer
Interior Features: Built-in Cabinets; Entrance Foyer; Quartz Countertops; Sky Light(s); Storage; Walk-in Closet(s); Wet Bar
Pre-Wired: Cable
Specialty Rooms: Laundry Room; Other
Appliances: Dishwasher; Disposal; Dryer; Freezer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer; Wine Cooler
Exterior Features: Fencing; Fruit Tree(s); Lighting; Outdoor Shower; Privacy Wall/Fence; Sprinkler System; Water Display
Pool Info: In Ground; Concrete; Decked
Construction: CBS; Concrete; Hardi Board Siding
Floor: Concrete
Roof: Other Roof
Pets: Pets Allowed
Land Size: Less Than 1/4 Acre
GF-Interior Features: LED Lighting; Tankless Hot Wtr Htr
Listing Documents
View Document Survey
View Document Seller's Disclosure
View Document Floor Plan (not to scale)
View Document Zoning Map
View Document FEMA Map (pre risk rating 2.0)
View Document Lead Based Paint Disclosure
View Document Insurance Dec Page

Listing Office: Truman & Co. (KW)

Last Updated: December - 30 - 2025

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.


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David Austin, Owner/Broker
Anchor Line Realty, LLC
820 Ashe Street
Key West, FL 33040
www.anchorlinerealty.com
[email protected]
305.766.6835
Member, National Association of Realtors (NAR)
Member, Florida Association of Realtors (FAR)
Member, Key West Association of Realtors (KWAR)